About Law

About Law
Law Extension Committee Winter 2007 Conveyancing Introduction and Formation of Contract
_____________________________________________________________________________
CONVEYANCING LECTURE 14 MAY 2007 Note: Students should read the Chapters in Lang &
Skapinker and the cases referred to in the Guide. These notes are NOT a substitute for reading the
text and considering the cases. _________________________________________ Introduction
Conveyancing "Conveyance" is defined by the The Australian Oxford Dictionary to mean "the
transfer of property from one owner to another". Conveyancing has the corresponding meaning so
when we talk about the law of conveyancing we are talking about the laws relating to the transfer of
property. This is likely ... Show more content on Helpwriting.net ...
Similarly, many commercial properties are occupied by tenants under either retail leases pursuant to
the Retail Leases Act or commercial leases. With commercial property it is often the case that a sale
is with the tenant as the lease has not expired and the property is being acquired for investment
purposes. The effect of the relevant statutory provisions and how they impact on the vendor and
purchaser must be understood and appropriate advice given to the client. Other interests and
dealings Other matters that might affect a property and any dealing with it are forestry rights,
easements, profits a prendre, water rights, restrictions as to use, positive covenants, sub–leases,
unregistered short term leases. This listing is not exhaustive. As we come across these matters, we
will deal with them. Titles Land in New South Wales can be: · · · · Old system Real Property Act
(Torrens) Strata title Community title
_____________________________________________________________________________ ©
James Helman 2007 Page 3 of 28 Law Extension Committee Winter 2007 Conveyancing
Introduction and Formation of Contract
_____________________________________________________________________________ · · ·
· Qualified Torrens title Limited Torrens title Qualified and Limited Torrens title Crown Lands title
While the majority of land is Torrens land an increasing percentage is under the provisions of either
Strata titles or
... Get more on HelpWriting.net ...

Auditing the Inventory Management Process: Answers
Chapter 13 Auditing the Inventory Management Process Answer Key
True / False Questions 1. The "cradle–to–grave" cycle for inventory begins when goods are
purchased and stored and ends when the finished goods are shipped to customers.
TRUE
AACSB: Analytic
AICPA BB: Industry
AICPA FN: Decision Making
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 13–01 Develop an understanding of the inventory management process.
Topic: Overview of Inventory Management Process 2. A receiving report records the shipment of
goods to customers.
FALSE
AACSB: Analytic
AICPA BB: Industry
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 13–02 Be able to identify and describe the types of documents and ... Show
more content on Helpwriting.net ...
TRUE
AACSB: Analytic
AICPA BB: Critical Thinking
Blooms: Apply
Difficulty: 2 Medium
Learning Objective: 13–11 Know how to observe physical inventory.
Topic: Observing Physical Inventory 12. An approved purchase requisition form authorizes
shipment of goods to customers.
FALSE

AACSB: Analytic
Blooms: Remember
Learning Objective: 13–02 Be able to identify and describe the types of documents and records used
in the inventory management process.
Topic: Types of Documents and Records 13. A comparison of the current year's inventory turnover
ratio with previous years' may indicate the presence of obsolete inventory.
TRUE
AACSB: Analytic
Blooms: Analyze
Learning Objective: 13–09 Be familiar with substantive analytical procedures used to audit
inventory and related accounts.
Topic: Substantive Analytical Procedures 14. When the client's perpetual inventory master files are
inadequate, the auditor will probably choose to test the physical inventory prior to the balance sheet
date.
FALSE
AACSB: Analytic
Blooms: Apply
Learning Objective: 13–09 Be familiar with substantive analytical procedures used to audit
inventory and related accounts.
Topic: Substantive Analytical Procedures 15.

Evaluating Internal Controls
Checklist for Evaluating Internal Controls ACC/544 April 29, 2013 Christine Errico Checklist for
Evaluating Internal Controls Internal controls are methods a company implements to safeguard and
protect the company in its day–to–day operations as well as its financial information. To ensure
these controls are effective and performing properly a company must evaluate these controls. In
performing this evaluation a company should use the three phases of the control evaluation. These
phases consist of understanding the documenting of internal control, assessing the control risks, and
performing tests of the controls and reassessing control risks. Phase One: Understanding and
Documenting Internal Controls This phase of the control ... Show more content on Helpwriting.net
...
| | | 30. Are risks viewed as impacting other departments? | | | 31. Does management respond to
prospects risks, which are significant and likely? | | | 32. Are processes in place? | | | 33. Are key
indicators monitored? | | | 34. If other entities are involved with sharing the risk, are they evaluated
for soundness? | | | Monitoring Evaluation | 35. Does training sessions exist for management and
employees informing the importance of internal controls? | | | 36. Are customer complaints and
compensations analyzed? | | | 37. Are vendor complaints and compensations analyzed? | | | 38. Are
reports in compliance with laws and regulations? | | | 39. Do account managers supervise and
analyze the accuracy and completeness of transaction processing? | | | 40. Does management
periodically compare recorded amounts to actual assets and liabilities? | | | 41. Does management
consider internal auditor's reports on control performance and recommendations for improvements?
| | | Information and Communication Evaluation | | Yes | No | 42. Is information given in a timely
manner? | | | 43. Is information gathered reliable? | | | 44. Is information gathered relevant? | | | 45.
Are employees encouraged to ask questions about their duties? | | | 46. Do employees have a way to
communicate significant data and information to management in the organization? |

Revenue Recognition Guidance : Fasb Statement Of Financial...
Revenue Recognition Guidance FASB Statement of Financial Accounting Concepts (CON) 5,
Recognition and Measurement in Financial Statements of Business Enterprises. As outlined in CON
5 and SEC Staff Accounting Bulletin (SAB) 104,Revenue Recognition, entities should apply the
four general principles of revenue recognition, which are listed below, in determining when to
recognize revenue from product sales: ● Persuasive evidence of an arrangement exists. ● Delivery
has occurred or services have been rendered. ● The seller's price to the buyer is fixed or
determinable. ● Collectability is reasonably assured. ASC 605, Revenue Recognition, provides
guidance for specific transaction revenue recognition and several matters related to activities which
generate revenues. Some examples include the sale of products, services performed, and the gain or
loss on conversions of nonmonetary assets to monetary assets. Revenue is recognized when it is
realized or realizable and earned. In addition, the section provides information on (1) how the
vendor will provide deliverables to the customer,(2) when to report revenue gross or net of certain
amounts paid to others, (3) the accounting of credit given by a vendor to a customer, and (4) the use
of the milestone method in arrangements that include research or development deliverables.
Currently, GAAP has complex, detailed, and different revenue recognition requirements for specific
transactions and industries. As a result, different

TBChap008
Chapter 08
Acquisition and Expenditure Cycle
True / False Questions 1.
Acquisition and expenditure activities include (1) purchasing goods and services, (2) receiving the
goods or services, (3) recording the asset or expense and related liability, and (4) depreciating assets
purchased. True False 2.
Purchases are requisitioned by a purchasing department that seeks the best prices and quality. True
False 3.
The accounts payable department reconciles the vendor invoice, purchase order, and receiving report
prior to approving the payment to the vendor. True False 4.
Bill of ladings for goods shipped from a vendor to the purchasing company should always include
the company's purchase order number. True False ... Show more content on Helpwriting.net ...
D. have the receiving department forward all copies of the purchase order to accounts payable.
25.
Vouchers should be stamped PAID to
A. prevent duplicate payment.
B. generate a new purchase order.
C. indicate posting in the voucher register.
D. facilitate preparation of the bank reconciliation.
26.
A voucher package is used to
A. document receipt of inventory.
B. document completion of services.
C. document a purchase contract.

D. provide a source document for recording the purchase of a good or service.
27.
An auditor traced a sample of purchase orders and the related receiving reports to the purchases
journal. The purpose of this substantive audit procedure most likely was to
A. identify usually large purchases that should be investigated further.
B. verify that cash disbursements were for goods actually received.
C. determine that purchases were properly recorded.
D. test whether payments were for goods actually ordered.
28.
The usual source for journal entries posted to the general ledger to record the purchase of inventory
is
A. sales invoices updated with cost data from the inventory records department.
B. purchase invoices updated with cost data from the inventory records department.
C. receiving reports updated with cost data from the accounts payable department.
D. vouchers payable journal from the accounts payable department.
29.
Which of the following would detect the understatement of a

Section 1 : Existing Key Internal Controls Essay
Section 1 – Existing Key Internal Controls
Key Control Control Objective Reasoning Test of Control
Once purchasing requests are received, the purchasing manager reviews and authorizes them. If
approved, these will be forwarded to the buyers. Proper approval of all transactions This control
ensures confirmation and authorization of all the purchase transactions. This increases the protection
from errors and frauds, such as preventing inaccurate information from entering the Integrated
Measurement Systems Inc.'s (IMS) documents and records. Verifying the purchasing requests
(approved by purchasing manager) with their corresponding documents, such as purchase requests
forms (approved by purchasing clerk), to reduce the likelihood of unapproved transactions in the
purchasing department.
After the purchasing clerk confirms the signatures of each purchase request and have pre numbered
the approved purchase orders, he/she keeps and files copies of the purchasing requests and
purchasing orders. Accuracy and completeness of books and records This control checks all pre
numbered documents, such as receipts and checks, are properly authorized. This decreases the
possibility of unauthorized transactions from entering IMS's records. Match the purchasing requests
and purchasing orders documents with IMS's corresponding filed copies to ensure that no
unauthorized transactions have occurred.
The purchasing clerk approves the filed copies of the purchasing request and purchase order by

Electronic Discovery : Employee Activity
Electronic Discovery
Employee activity might occasionally be monitored by law enforcement or staff to guarantee
regulatory compliance and ethical behavior, find evidence and track data breaches to their source for
HIPAA compliance. Security is a big concern for B2B companies, and having core tracking tools for
eDiscovery complies with regulatory agency guidelines, strengthens internal security and provides
electronic trails for evidence in criminal proceedings.
Managing Purchases
B2B companies that sell extensive products, represent manufacturers and sell items at both physical
locations and online have more complex inventory–management and ordering needs. Core back–
office features usually update availability data but seldom manage complexities such as keeping the
showroom stocked, answering customer questions about the supply chain and collating materials
used in manufacturing or assembling products to take advantage of bulk ordering discounts and
customizing or building products for customers. B2B companies can ignite sales by using product
collaborators, but this often generates problems for the back–office staff such as pricing special
orders, getting approvals from various stakeholders, ordering products and materials or locating new
vendors.
Supply Chain Management
Special features allow managers to compare POS intelligence, BI, vendor prices and options, supply
chain logistics and customs–clearance needs. Companies with physical–location sales or different
websites

Accounting Week 3 Homework
6–19. The following questions concern the reasons auditors do audits. Choose the best response.
a. Which of the following best describes the reason why an independent auditor reports on financial
statements?
(1) A misappropriation of assets may exist, and it is more likely to be detected by independent
auditors.
(2) Different interests may exist between the company preparing the statements and the persons
using the statements.
(3) A misstatement of account balances may exist and is generally corrected as the result of the
independent auditor's work.
(4) Poorly designed internal controls may be in existence.
b. An independent audit aids in the communication of economic data because the audit
(1) confirms the accuracy of ... Show more content on Helpwriting.net ...
Completeness * 8. Accuracy * 9. Posting and summarization * 10. Classification * 11. Timing |
Required
a. Explain the differences among management assertions about classes of transactions and events,
general transaction–related audit objectives, and specific transaction–related audit objectives and
their relationships to each other.
Management assertions are unforeseen or expressed representations by management about the
classes of transactions and related accounts in the financial statements. These claims are the same
for every transaction cycle and account. General transaction–related audit objectives are really the
same as management assertions, but they are modified a little to help the auditor decide which audit
evidence is needed to justify the management assertions. Specific transaction–related audit
objectives are determined by the auditor for each general transaction–related audit objective. This
process is done for every transaction to help the auditor know what amount of evidence is needed
for that cycle to satisfy the general transaction related audit objectives.
b. For each specific transaction–related audit objective, identify the appropriate management
assertion.
1. Occurrence–a
2. Completeness–d
3. Accuracy–c and b
4. Classification–e
5. Cutoff–f

c. For each specific transaction–related audit objective, identify the appropriate general transaction–
related audit objective.
6. Occurrence–a
7. Completeness–c

Kudler
Kudler Fine Foods – Information System Audit
Information technology (IT) has become increasingly sophisticated and complex, escalating the
ongoing change within Kudler Fine Foods. As IT information is adopted within the organization,
automation controls many processes within the Kudler's environment. As Kudler has become more
virtualized, a need for increased trust and assurance in the relationships with consumers, partners
and suppliers. The swell of e–commerce business has created new ways of conducting an audit.
Statement on Auditing Standard 94 (SAS 94) requires that the auditor understands the technological
aspect of the organization in order to grasp the internal controls and the assessment of control risks
for a proper audit ... Show more content on Helpwriting.net ...
The outsourcing of payroll to the third party would be audited using the SAS 70 approach. SAS 70
audit "has become a virtual business requirement for service and outsourcing providers" (Gallun,
2008, p. 13). To have obtained a SAS 70 report the outsourced payroll provider would have gone
through a rigorous review of their internal controls structures and once completed the compliance
report can be shared to other users. The two main SAS 70 reports, which describe a company's
internal controls, are Type I which and Type II. Type I report does not perform a detailed testing of
controls but only performs a "walkthrough" of controls (Hunton, 2004). Type II report is more
involved than a Type I report because the controls are extensively reviewed (tested beyond a
"walkthrough") and tested over a minimum of six months.
Purchasing and Inventory
Kudler Fine Foods has significantly increased the amount of data processed electronically in
purchasing and inventory. The two processes are virtually "hands off" due to electronic data transfer
(EDI) and barcode based receiving. The EDI process should be audited using an attestation audit,
also known as a SysTrust engagement, to verify the EDI system is available, security, has integrity
and is maintainable. Due to the nature of

Coconut Telegraph
James Huang
Professor Kunkel
November 9, 2014
Individual Case Study
1. Yes, the agreement on February 1, 2012 is within the scope of ASC 985–605. Example 9 in
section 985–605, 55–180 is similar to the case. According to 985–605, 55–182, the revenue for PCS
would be "deferred and recognized in income over the one–year post–contract customer support
service period" assuming the "lack of vendor–specific objective evidence of the fair value of the
delivered software element." In reference to the example, the PCS should be accounted monthly
over the 12–month period. There is no "vendor–specific objective" because the product and the
service are not sold separately.
2. The items should be accounted separately. In example 4, section 605–10, ... Show more content
on Helpwriting.net ...
The contract from February 1, 2012 and May 1, 2012 should be accounted together. According to
ASC 985–605–55–4, "any of the following factors may indicate that a group of contracts should be
accounted for as a single multiple–element arrangement: a. The contracts or agreements are
negotiated or executed within a short timeframe of each other. B. The different elements are closely
interrelated or interdependent in terms of design, technology, or function." It is evident that the
second contract is an extension of the first contract. It satisfies the first factor in which the training
of the system is given within the same timeframe of the first year of PCS. It satisfies the second
condition also. Without the first contract, the second contract would not exist. The second contract
provides training based on the Volcano System

Management Discussion And Analysis : Social Konnections Inc.
General Background Info
Social Konnections Inc. (SKI) is an international corporation that runs a large and popular social
media platform designed for networking. Since its launch in 2005, SKI is developing at a steep rate
of growth. SKI's initial public offering was in 2010 and now has over 500 million active users. In
the previous fiscal year, almost all of the company's revenue came from advertisers who place their
product ads on the social media website and it's corresponding mobile platforms. Remaining
immaterial revenues are recognized as payments received from fees associated with the sale of
virtual goods/services by third party application developers who use SKI's service platforms.
SKI has recently acquired an entity that manages ... Show more content on Helpwriting.net ...
By reading SKI's disclosed accounting policies and conducting inquiries of the company's internal
control employees, such as Bill Cook (revenue controller), Ms. Drew becomes concerned about
several findings she encountered regarding SKI's revenue recognition policies.
Identifying Potential Revenue Recognition Issues
ASC 605–50–25–3,7 advises that when dealing with multiple arrangements the arrangements must
be identified and can be recognized as either a single contract with multiple deliverables or a
compilation of individual contracts for one customer. SKI's general advertising services involve
multiple arrangements since each contract they make is tailored to meet the needs of individual
clients. The potential issue concerning SKI's advertising revenues involves the facts that these sales
agents are given significant latitude in securing these contracts. This creates many differences
among the contracts and raises the issue on how SKI is supposed to recognize the revenues from
their contracts that all have varying terms. Following ASC 605–50–25–3,7; Guidance characterizes
these contracts that are substantially different as multiple deliverables and that the consideration of
these arrangements must be allocated to the deliverables as separate units of accounting. This
allocation is done by determining a relative sales price for the nature of the arrangements and to
allocate them respectively. Kristine Drew could recommend that SKI could

Chapter 2— Auditing It Governance Controls
Chapter 2– Auditing IT Governance Controls
TRUE/FALSE
1. To fulfill the segregation of duties control objective, computer processing functions (like
authorization of credit and billing) are separated.
2. To ensure sound internal control, program coding and program processing should be separated.
3. Some systems professionals have unrestricted access to the organization's programs and data.
4 . IT governance focuses on the management and assessment of strategic IT resources
5. Distributed data processing places the control IT recourses under end users.
6. An advantage of distributed data processing is that redundant tasks are greatly eliminated
7. Certain duties that are deemed incompatible in a manual system ... Show more content on
Helpwriting.net ...
|data corruption caused by program errors |
|d. |system crashes |
6. Which is the most critical segregation of duties in the centralized computer services function?
|a. |systems development from data processing |
|b. |data operations from data librarian |
|c. |data preparation from data control |
|d. |data control from data librarian |
7. Systems development is separated from data processing activities because failure to do so
|a. |weakens database access security |
|b. |allows programmers access to make unauthorized changes to applications during execution |
|c. |results in inadequate documentation |
|d. |results in master files being inadvertently

Different Types Of Different Risks In An IT Audition
Other Risks. There are different types of risks in an IT setup which are supported by segregation of
duties outlines and formats. Audit risk is a risk that the auditor will issue an unqualified opinion.
Being a major aspect prone to fraud, audit risk entails material error can be hardly identified and can
go undetected during an information financial audit report. The audit risk however has different
classifications. Inherent risk– The risk that an error exists that could be material or significant when
combined with other errors encountered during the audit, assuming that there are no related
compensating controls. Inherent risk can also be categorized as the susceptibility to a material
misstatement in the ... Show more content on Helpwriting.net ...
Overall audit risk– the combination of individual categories of audit risks assessed for each specific
control objective. An objective in formulating the audit approach is to limit the audit risk in the area
under scrutiny so the overall audit risk is at a sufficiently low level at the completion of the
examination. Another objective is to assess and control those risks to achieve the desired level of
assurance as efficiently as possible.
As much as this risks are prone to attacking the system; control risk assessment must be backed up
by control testing results.
Suitable Control Mechanisms
For more efficient and effective audit procedures, they are different control mechanisms that can be
applied in order to minimize risk: Mitigation is the most commonly used mechanism that involves
fixing the flaw or in a way providing a set of ways to compensate and control the impact that is
associated therein. The most common is installing system patches at any point a vulnerability has
been discovered. Under mitigation, ensuring compliance can be applied by ensuring compliance
with relevant bodies and rules, logical access can be tailor–made so as to clearly target areas with
the most risk and those areas where change can be made and easily implemented. The use of
monitoring counters is the hardware–assisted technique usually that adds the least amount of
performance overhead while minimizing the requirement to patch the kernel. It in turn offers a way
to

Individual: The Advantages And Disadvantages Of Outsourcing
Assignment 1: Individual Essay
On
Outsourcing
Words Counted: 1185
Introduction to UK Graduate Study CORP 3801
Submitted By: P1516779
Submitted To: Lilia Ochisor
Date: 29th October 2016.
De Montfort University – Niels Brock Copenhagen Business College
GCIB Programme, Copenhagen.
Industrial shifting, development of knowledge and cost of employee in different parts of the world
led different countries to outsource different products and services from other countries. Concept of
outsourcing is not very old. It was started at the very end of twentieth century with the development
of computer and information technology. Now most of the companies and almost every country
outsource something from other company or country. So, it has become a widely used term all over
the world. Therefore, the purpose of this study is to find out the most common areas where
outsourcing is mostly used. The study has also ... Show more content on Helpwriting.net ...
Some major advantages of outsourcing are the followings:
The main benefit of outsourcing is reducing cost. Organizations most of the time try to receive
different service from countries where cost is relatively lower (Abraham and Taylor, 2012).
Moreover, having one outsourced team to support many countries' office also reduces costs.
Small and developing countries have overcome the barrier of knowledge and expertise through
outsourcing of technical services like web design, software development, and information
technology management etc. as those organizations can't afford permanent employees for these areas
due to higher cost.
Outsourcing accounting, taxation and legal matters facilitate an organization by getting expert
knowledge and suggestions on these areas.
Delegating data maintenance, data analysis and recording to a specific outsourced company for a
group of subsidiaries ensured a central control for the parent

Information Is Necessary For Businesses And Auditors
The most current and up to date information is necessary for businesses and auditors to make
informed decisions. Information can be processed by newer technology at speeds that were not
available before but can now be programmed to look for trends, set alerts, and analyze values with
the ability to be shared on a moment 's notice. Auditors have had barriers with software and the
"lack of transparency" which exists within older audit systems, preventing the auditor from having
access to real time data from within a common data repository. The Assurance Service Executive
Committee (ASEC) is teaming up with outside vendors to create an Audit Data Standard granting
access for auditors to have information in real time with transparency and fulfilling goals of "semi
automated to fully automated audit tools." New steps presented will help reduce the dependence on
data systems which rely on processing systems that do not exchange data or interact with other
computer data processing systems. Applications and modulars can be tailored to interact with each
other while performing multiple tasks and help increase reliability by reducing any errors within the
data for a more detailed audit.
The Audit Data Standard's purpose is to help provide users with information as it happens in real
time without delays; and, with the new ADS system there is now opportunity to sync
modulars/applications with current needs for the environment. Auditors are forced to wait on
requested data in order

Electronic Health Record ( Emr )
Introduction
Electronic Health Record (EHR) and Electronic Medical Record (EMR) have become an important
component of modern health care. Nowadays, more and more countries including developed
countries and some developing countries have implemented EMR in hospitals or clinics to provide
better care to patients.
With the implementation of EMR in healthcare field, physicians are able to access patients ' chart,
diagnosis, treatment remotely, and they are able to get alerts about criteria lab values or some
potential medical errors.
Canada is among the top 10 countries who adopt EMR through the country. However, compared
with some European countries, there is still some way to go for Canada. Adoption rate of EMR in
Canada is about 56%, while ... Show more content on Helpwriting.net ...
Then I will conclude other issues that may lead to poor implementation of EMR in health
organizations and what organizations can improve during the process of procurement. Finally I will
mention the trend of EMR procurement nowadays.
Canada 's current state of adopting EMR
Canada has advocated and provided enough fund for the implementation of electronic medical
record across the whole country. In 2010, Canada Health Infoway received $500 million CDN; of
this amount, $380 million is to be directed to office EMR adoption (Price, 2011).It shows that
Canada pays a lot of attention to the adoption of EMR. However, Canada still need make efforts to
increase adoption rate of EHR. From this diagram we find that there is no country which can reach
100% EMR implementation. Some of European countries, including Norway, Netherlands, United
Kingdom and New Zealand have high EMR adoption rate which is almost 100 percent. And
Australia has adoption rate of 92 percent, which is also a high adoption rate. In comparison,
Canada's EMR adoption rate is relatively low, with only 56% adoption rate. Many physicians or
health professionals are still resistant to use EMR in Canada. According to an international
comparison, less than 30% of physician in Canada use electronic lab review, e–prescribing or some
other eHealth technology, comparing with rates of greater than 90% in the

RR Atletico Oaklawn Analysis: Separate Units Of Accounting
RR Atletico Oaklawn Analysis 1
Requirement 1:
What are the accounting issue(s) and the relevant components of the authoritative literature?
The case focuses on a sales agreement with multiple deliverables. The critical issue is determining
whether there are separate units of accounting in the sales agreement. In other words, should the
multiple deliverables be accounted for as one unit of accounting or as two or more separate units of
accounting? Guidelines that assist with evaluating sales transactions that involve multiple
deliverables can be found in subtopic 605–25, ''Revenue Recognition–Multiple–Element
Arrangements,'' in the Codification.
Requirement 2: What are the separate units of accounting in the sales agreement ... Show more
content on Helpwriting.net ...
Question 2, above, is not relevant and need not be considered because there is no general right of
return provided by AOI in its agreement with CMI.
Requirement 3: How much of the arrangement consideration should be allocated to each unit of
accounting? Be sure to identify any other issues that must be resolved to determine how revenue
should be allocated.
AOI must now allocate the arrangement consideration between the two separate units of accounting.
As discussed in FASB ASC 605–25–30–2, arrangement consideration should be allocated using the
relative selling price method. The case asks to ''identify any other issues that must be resolved to
determine how revenue should be allocated.'' To apply the relative selling price method, AOI must
determine whether it has vendor–specific objective evidence (VSOE) of selling price (as defined
below) for either or both of the separate units of accounting. If AOI has VSOE of selling price for a
unit of accounting, it should use that selling price in the relative selling price method. If AOI does
not have VSOE of selling price for a unit of accounting, it should determine whether it has third
party evidence (TPE) of selling price (as defined below). If AOI does not have VSOE of selling
price, but does have TPE of selling price for a unit of accounting, then AOI should use TPE of
selling price in the relative selling price method. If AOI has neither VSOE of selling

Scm and Erp Software Implementation at Nike – from Failure...
Introduction: Nike was founded under the name Blue Ribbon Sports in 1964. In 1972 the first pair
of sports shoes was sold and experienced enormous growth and achieved a 50% market share within
the sports shoe market in the US only eight years later. After sluggish focus and growth in the
1980ies, Nike experienced strong growth in the 1990ies and cemented the position as global
recognizable brand. The increased international focus created strains on the supply chain, which was
consider inadequate to cater efficiently to the organization and the rapid changes consumer demands
. As a consequence of the afore mentioned supply chain problem Nike faced inefficient inventory
management, problems in flow of goods and poor demand ... Show more content on Helpwriting.net
...
McAfee of Harvard Business School has said: "What Nike and i2 Technologies Inc. began
experiencing the problem actually is not the software itself... The culprit there was misspecification"
Further on the subject of customization, Nike had great difficulties balancing customization with
speed–to–market. I believe the external factors of significant competition, changing market place
and resulting disappointing financial performance in growth markets lead Nike to rush the
implementation and interfered with normal OBB. The rushing meant that a guideline, templates and
implementation methodology was discarded by Nike with the argument that the i2 provided material
was too rigid. In general I would argue that Nike required technology that was not sufficiently
available at the time. This pushed i2 to enter unknown software–territory and program–to–order
disabling sufficient time for vendor/developer testing. The criticality of this was further boosted due
to lack of testing from Nike, which clearly illustrates faults in phase 4 of the implementation as well.
(Appendix 3) Lastly, I find evidence that a global ERP and SCM software potentially would be
difficult to manage successfully at the time due to the structural issue of underdeveloped bandwidth
infrastructure , which could indicate Nike required a technical solution which was not

Financial System Of Telecommunication Industry : Mahindra...
Chapter 4: Financial System in Telecommunication Industry: Mahindra Comviva
Mahindra Comviva is one of industry in telecommunication sector that provides value added
services for mobile operators. The company is among the leader of mobility solutions providing a
suite of productized solutions.
In the organization a proper mechanism of financial system plays a key role. An effective and
efficient process and procedure of financial management is essentially necessary to maintain a
financial health and growth of the company. As an IT–based firm Mahindra Comviva deals in
software solution which lays a great emphasis on framework of its Financial System by keeping a
proper record of its financial transactions and also adhering to various accounting standards and
principles while preparing financial statements.
In Mahindra Comviva Financial System is categorized into three categories: The Three–tier level
mechanism determines the financial system of Mahindra Comviva which is a backbone of the
organization.
Revenue Recognition
Accounting Standards
An accounting standard is a principle that guides and standardizes accounting practices. The
Generally Accepted Accounting Principles (GAAP) are a group of accounting standards that are
widely accepted as appropriate to the field of accounting. Accounting standards are necessary to
provide a meaning to financial statements across a wide variety of business. It facilitates uniformity
in financial reporting and ensures consistency in

Business Values And Ethics Differ With Every Company Essay
Business values and ethics differ with every company. They are formed by the behaviors and good
ethics that is required in a professional environment.
Values. Company values are used to guide and inspire individuals within a business in order to help
them make appropriate decisions that align with company's principles and policies and business
practices within its industry. Strategic management is important to understand the position of the
organization. It allows the company to accomplish goals by performing business ethics and values to
gain success. (McQuerrey, 2015)
Kroger Corporation.:
Kroger 's set of principles consists of six core values: Honesty, Integrity, Respect, Diversity, Safety,
and Inclusion.
Honesty: Kroger encourage honesty from everyone who is part of the company, whether they are
employees, customers, or vendors or suppliers.
Integrity: Kroger sticks to its values even in the most difficult and challenging situations.
Respect: Kroger's treats everyone with dignity and value the opinions of others.
Diversity: Kroger admires and value differences in the backgrounds, cultures, and ethnicities of all
associates, customers, and vendors.
Safety: Kroger wants to ensure a safe and secure workplace and shopping environment for its
employees, and provide its customers protection against injuries.
Inclusion: Kroger encourages and expects collaboration, teamwork and the active involvement of all
associates (The Kroger Company, 2014).
Kroger takes their values

Budget Paper
Running head: DEVELOPMENT OF A SCHOOL BUDGET
Development of a School Budget
Tracy Johnson
Grand Canyon University
EDA 533
Dr. Joyce MacKey
Fall/2005
Development of a School Budget The budget is a plan of how to spend available funds wisely, and
entails a list of all expected revenues and expenses. The budget is compiled annually and marks the
beginning and end of the fiscal year. While the primary burden of the budget lies with the finance
department, it is the responsibility of all faculty affected by budgetary practices to provide insight
into the projected financial future of the school. The goal and evidence of a successful budget is to
have the actual numbers of the financial year equal or come close to the estimated ... Show more
content on Helpwriting.net ...
Susan Furr, bookkeeper at the Academy for the Arts, Science, & Technology, states that the general
funds that are available and sent to each individual school are based on student enrollment and are
usually adjusted after a 45–day count has been completed. The chief officer for each specific
department handles funds for special programs and federal funding allocations. Included in this area
are things such as Title I funds or Perkins funds for vocational programs (S. Furr, personal
communication, October 9, 2005). Horry County Schools uses two separate software programs
designed to make the accounting process easier. PeopleSoft is a program that is designed for overall
budget accounts and purchase requisitions and is used to coordinate with the district procurement
office. Infospan is a computer program that is specifically designed to account for the use of credit
card expenditures, which are eventually maintained in the PeopleSoft program as well. Individual
teachers are assigned receipt books for various activities such as fundraising and teachers must
complete a Purchase Requisition Request Form prior to receiving approval from the school
administrator to spend assigned or collected funds (S. Furr, personal communication, October 9,
2005). The school bookkeeper is primarily responsible for the checks and balances that are made in
regards to the overall school budget. The bookkeeper

Velocity Cellular Case Essays
Velocity Cellular Case Study
1– a. According to ASC 605–25–25–5 , a delivered item in an arrangement with multiple
deliverables shall be considered a separate unit of accounting if the following criteria are met:
* The delivered item or items have value to the customer on a standalone basis, which is satisfied in
this case. * When vendor–specific objective evidence or third–party evidence of selling price for
deliverables is absent, the vendor is allowed to give an objective estimation of the price of
deliverable unit on standalone basis (in accordance with ASU No.2009–13), which is generally
satisfiable. * If the arrangement includes a general right of return relative to the delivered item,
where the delivery or ... Show more content on Helpwriting.net ...
Additionally, both of the following conditions shall be met: The services are not essential to the
functionality of any other element of the transaction, and the services are described in the contract
such that the total price of the arrangement would be expected to vary as the result of the inclusion
or exclusion of the services.
Also the deliverables in this case do meet the general separation criteria under FASB ASC 605–25–
25–5. This is because the software does have a standalone value to the customer, and there is an
objective and reliable evidence of fair market value for the installation, and there is no reference or
evidence that a general right of return granted by the supplier. Therefore we can consider the units in
this arrangements as separate entities and use the relative selling price method to account for them.
250,000 + 5,000 + 57,500 = 312,500 total base . 250,000/312,500 = 80% of the actual price of the
arrangement to be allocated to the software. 5,000/ 312,500 = 1.6% of the actual price of the
arrangement to be allocated to the installation. 57,500/ 312,500 = 18.4% of the actual price of the
arrangement to be allocated to the technical support. The relative price of the software would be
$240,000, the relative price of the installation would be $4,800 and the

Trueblood Case 14-3: Coconut Telegraph
Trueblood Case 14–3: Coconut Telegraph Brett O'Baker 9/14/15 Facts: * Coconut Telegraph
Corporation (Coconut) is a developer and provider of specialized customer billings and management
software and systems * On February 1, 2012, Coconut entered into an arrangement with Buffett
Worldwide Inc. (Buffett) to deliver the Volcano System and provide one year of post–contract
customer support (PCS) beginning March 1, 2012. * Buffett paid $12,000 on February 1, 2012, for
the Volcano System and the related PCS. On May 1, 2012, and in a separate contract, Coconut
agreed to provide Buffett with (1) training services on the customer management system and (2) an
additional year of PCS. * Under the terms of this agreement, ... Show more content on
Helpwriting.net ...
In this case, vendor–specific objective evidence of fair value is limited to the price charged when the
same element is sold separately. Of the $12,000 Feb 1 agreement, $10,286 will be allocated to the
Volcano System and $1,714 will be allocated to the PCS. The portion of the fee allocated to post–
contract customer support shall be recognized as revenue ratably over the term of the post–contract
customer support arrangement, because the post–contract customer support services are assumed to
be provided ratably (PCS 985–605–25–67). As of April 30 – Recognized Revenue – Volcano System
$10,286, PCS $286 (2 mths) Deferred Revenue – PCS $1,428 3. Should the February 1, 2012,
agreement and the May 1, 2012, agreement be accounted for separately or as a single arrangement?
Arrangements for products or services containing software that is incidental to the products or
services as a whole will not be included indicating the 2 arrangements will be separate (ASC 985–
605–15–4a). 4. On the basis of the response to Question 3, how should Coconut account for the
execution of the May 1, 2012, agreement? Provide the deferred revenue balance and cumulative
revenue recognized related to the Buffett arrangement upon execution of the May 1, 2012,
agreement. Of the $4,500 paid for the May 1

Computerized Provider Order Entry Pre-Deployment...
In an effort to improve clinician workflow and enhance patient safety, a healthcare facility has
purchased and will soon be introducing a computerized provider order entry (CPOE) system for use
within the electronic health record. A pre–deployment evaluation plan will permit the informatics
team to appraise the usability of the CPOE and provide administrators with valuable data regarding
its successful implementation. This paper describes the formation of this evaluation plan including
the goals, methodology, and tools to be used. The final sections cover the ethical implications and
dissemination of findings, along with the limitations and opportunities that the study provides. Goals
of Evaluation Plan and the PICO Question The ... Show more content on Helpwriting.net ...
Literature Review A review of literature pertaining to the effects of CPOE on clinician workflow
revealed several interesting findings. Although many seemingly effective CPOEs exist, their
performance in the clinical environment is highly dependent on the perceived usability and
acceptance of the end–users. The user–interface design is of extreme importance. Complex
sequences of action, numerous mouse–clicks, and problematic presentation of information are some
barriers that can lead to delays and errors (Khajouei, Wierenga, Hasman, & Jaspers, 2011; Khanna
& Yen, 2014; Van Doormaal et al., 2010). Comprehensive training and ongoing support by super–
users are critical factors to clinicians' acceptance and optimal functioning of the system (Khajouei et
al., 2011; Staton et al., 2013). The negative impact on multidisciplinary interaction is profound, but
can be facilitated by sound communication policies (Khajouei et al., 2011; Khanna & Yen, 2014;
Staton et al., 2013; Van Doormaal et al., 2010). In addition, providers' inclusion in any proposed
workflow changes can avert later problems (Staton et al., 2013). Hagstedt, Rudebeck, & Petersson
(2011) developed a survey consisting of 73 specific questions that address patient safety,

Management Strategy At Coca Cola
Management at Coca Cola
Sandra Lee–Sartor
MGT500–Modern Management
Dr. McGrath
November 21, 2016
Evaluate two (2) key changes in the selected company 's management style from the company 's
inception to the current day. Indicate whether or not you believe the company is properly managed.
Provide support for your position.
A management style is a complete process of leadership used by managers within Coca Cola. The
success that the management team at Coca–Cola has in inspiring its employees to meet their
objectives is built on the management style they adopted. There are three main management styles
that Coca Cola use, which are democratic, autocratic and the laissez–faire style.
The democratic leadership style consists of the leader, sharing the decision–making skills with the
group associates by encouraging the benefits of the group members and by practicing social
fairness. This stresses on group agreements to produce new ideas. Democratic happens when all
managers, junior managers and employees are involved in the idea and the final decision process.
Democratic style is the management style that Coca–Cola has adopted, which involves
empowerment, and allows individuals and teams the responsibility of decision making, usually
within a given framework. The authoritarian leadership style keeps strict, close control over its
followers by keeping close regulation of the policies and procedures given to the followers.
The laissez faire style is sometimes described

Case 09-1, Velocity Cellular Essay
MEMORANDUM
To: Dr. John J. Morris, Department of Accounting
From: Group # 5 (Amanda Picht, Qinxi Fan, Mengnan Zhang)
Date: April 10, 2012
Subject: Acctg 642: Case 09–1, Velocity Cellular
Statement of Facts
Velocity Cellular Services is a company that sells wireless services and products based on the
Global System for Mobile Communications (GSM) standard. Under the GSM standard, an
activation card is necessary for every subscriber. The company is promoting Power Starterpack, a
prepaid phone service plan to existing wireless subscribers. Each subscriber of this plan will get a
new activation card and a nonrefundable prepaid fee of $200. The $200 prepaid voucher ... Show
more content on Helpwriting.net ...
The delivered item or items have value to the customer on a standalone basis. The item or items
have value on a standalone basis if they are sold separately by any vendor or the customer could
resell the delivered item(s) on a standalone basis. In the context of a customer's ability to resell the
delivered item(s), this criterion does not require the existence of an observable market for the
deliverable(s). II. Subparagraph superseded by Accounting Standards Update No. 2009–13. III. If
the arrangement includes a general right of return relative to the delivered item, delivery or
performance of the undelivered item or items is considered probable and substantially in the control
of the vendor. C. ASC 605–25–55–1 depicts a flow chart; it graphically summarizes ASC 605–25–
25–5, and states that an item qualifies as a multiple deliverable arrangement if a right of return exists
or is not applicable.
2. Velocity Cellular should allocate the $200 nonrefundable fee between the activation card and the
airtime card (prepaid voucher). The activation card should be recognized as revenue at the point of
purchase, while the airtime minutes should be recognized at their point of use (as revenue is earned).
A. ASC 605–25–30–2 states that an arrangement consideration shall be allocated at the inception of
the arrangement to all deliverables on the basis of their relative selling price (the relative

How to Apply Porter's Five Forces to Discover...
Audit Checklists & Continuous Auditing for Financial Close and Sarbanes–Oxley (SOX) Audit
Procedures
December 2006
This document provides a consolidated set of audit checklists typical of those used by internal and
external auditors to evaluate the financial close process and test compliance with SarbanesOxley
(SOX). These checklists identify all of the typical controls that comprise a typical audit and
highlight ways that you can automate many of the tasks by using an independent controls
monitoring and audit (CMA) solution.
Table of Contents
Section 1 – Financial Close Process ......................................................................................... 3
Section 2 – Entity Level Controls – Control Environment ... Show more content on Helpwriting.net
...
6
Journal entry input is restricted to authorized personnel. There is a checklist of the standard closing
journal entries made at month–end, quarter–end, and year–end. Pre–numbered vouchers are used to
ensure that all non–recurring entries are processed only once in the system. Manual journal entries
have adequate supporting documentation and are approved by the appropriate level of management.
7 8
9
10 11
Standardized journal entries are used for recurring journal entries. Journal entries are supported and
authorized before being posted. System logic prevents journal entries for which debits do not equal
credits. The system will not allow journal entries to be recorded to a closed accounting period.
System logic will not allow duplicate journal entry numbers. A procedure detailing the calculation of
specific accruals and recording rules exists and is consistently applied. CMA solutions identify
unauthorized journal entries. CMA solutions identify journal entries for which debits do not equal
credits. CMA solutions identify journal entries that have been recorded after a closed accounting
period. CMA solutions identify duplicate journal entries.

12
13
14 15
Audit Checklists & Continuous Auditing for Financial Close and Sarbanes–Oxley (SOX) Audit

CPA Exam Test with Answers
Management 's attitude toward aggressive financial reporting and its emphasis on meeting projected
profit goals most likely would significantly influence an entity 's control environment when A. The
audit committee is active in overseeing the entity's financial reporting policies. Answer A is
incorrect. An active audit committee tends to temper management 's aggressive stance. B. External
policies established by parties outside the entity affect its accounting practices. Answer B is
incorrect. External policies tend to moderate such management tendencies. C. Management is
dominated by one individual who is also a shareholder. Answer C is correct because these noted
factors tend to have an especially significant influence on ... Show more content on Helpwriting.net
...
close Answer C is correct. Rapid growth of the organization is considered a risk factor when
considering a client 's risk assessment policies. While obtaining an understanding of a client 's risk
assessment policies, an auditor ordinarily considers how management A. Identifies risks. Answer A
is correct. An auditor should obtain sufficient knowledge of the entity 's risk assessment process to
understand how management considers risks relevant to financial reporting objectives and decide
about actions to address those risks; that knowledge might include understanding of how
management identifies risks, estimates their significance, and assesses the likelihood of their
occurrence, and relates them to financial reporting. B. Eliminates significant risks. This answer is
incorrect. Refer to the correct answer explanation. C. Assesses the likelihood of occurrence of
subsequent events. This answer is incorrect. Refer to the correct answer explanation. D. Relates risk
assessment to compliance with marketing objectives. This answer is incorrect. Refer to the correct
answer explanation. close Risk assessment. For financial reporting purposes an entity 's risk
assessment is its identification, analysis, and management of risks relevant to the preparation of
financial statements following GAAP (or some other comprehensive basis). The following are
considered risks that may affect an entity 's ability to properly record, process, summarize and report
financial

Making Connections
I. Making Connections Case #14–6
1. Succinct statement of the facts: Social Konnections Inc (SKI) is a global internet company that
runs a large social media networking web site. The major source of income for the company is from
the advertisers who use the advertising space created by Social Konnection Inc. The amount an
advertiser pays depends on the number of views or the number of clicks depending on the type of
the contract. The company acquired Corporate Collaborations this entity manages private and public
social media networks that earn its revenue providing corporate social network development and
hosting services. The audit committee of the company has requested the company to hire a new
audit firm with a better experience in ... Show more content on Helpwriting.net ...
3. Alternative available to audit the issue or issues discussed in # 2 above indicating the authoritative
basis.
PCAOB Auditing Standard No. 12 Paragraph 47:
"In applying analytical procedures as risk assessment procedures, the auditor should perform
analytical procedures relating to revenue with the objective of identifying unusual or unexpected
relationships involving revenue accounts that might indicate a material misstatement, including
material misstatement due to fraud. Also, when the auditor has performed a review of interim
financial information in accordance with AU sec. 722, he or she should take into account the
analytical procedures applied in that review when designing and applying analytical procedures as
risk assessment procedures."
605–10–S99 SEC Materials General Note: As more fully described in the Notice to Constituents, the
Codification includes selected SEC and SEC Staff content for reference by public companies. The
Codification does not replace or affect how the SEC or SEC Staff issues or updates SEC content.
SEC Staff content does not constitute Commission–approved rules or interpretations of the SEC. |
General
605–10–s99–01Currently Viewing:
605 Revenue Recognition
10 Overall
S99 SEC Materials
General
> SEC Staff Guidance
>> Staff Accounting Bulletins
>>> SAB Topic 13, Revenue Recognition
S99–1 The following is the text

Essay about Case Analysis
Intermediate Accounting
A Series of Revenue Recognition Research
Cases Using the Codification
Case One: Consumer Cleaning Products Corporation (CCPC) Case Two: Landline Corporation Case
Three: Assembly Lines Incorporated (ALI)
Submitted By
Chen Chongxiao Sweta Shah Xiaoyun zhang
Case One
Requirement 1: The accounting issue in this case is how to account for the coupons which was
introduced on Sep. 1 2009 for the new detergent Fresh & Bright Marketing campaign by a
detergent manufacturer called Consumer Cleaning Products ... Show more content on
Helpwriting.net ...
Requirement 3: According to FASB Codification 605–50–25–4, if the amount of future rebates or
refunds can be reasonably and reliably estimated, the expected redemption rate should be taken into
account when calculating the cost of sales incentives. Otherwise, a liability (or deferred revenue)
should be recognized for the maximum potential amount of the refund or rebate. In this case, CCPC
estimates that customers will redeem approximately 2 percent of the detergent coupons. We analyze
the dollar amount of the effect of the coupons in the following two scenarios:
| If there is sufficient evidence to support the 2% expected redemption rate | If there is NOT
sufficient evidence to support the 2% expected redemption rate | Accrual of the coupons | Coupons
to be redeemed=total coupons*expected redemption rate: 500,000*2%=10,000Total discounts=
expected redeemed coupons*per coupon discount: 10,000*2=$20,000 | Maximum potential of
refunds=total coupons*per coupon discount: 500,000*2=$1,000,000 |
Requirement 4: FASB Codification 605–50–25–4 indicates that a vendor's ability to make a
reasonable and reliable estimate of future rebates or refunds may be impaired by the following
factors:
a. Relatively long periods in which a particular rebate or refund may be claimed.
b. The absence of historical experience with similar types of sales incentive programs

The Securing Of Data And Information
Introduction The securing of data and information is more important in today's post–industrialized
economy, for many reasons. For example, businesses continue to decentralize, in addition to,
outsourcing products and–or services. In essence, outsourcing of products and–or services by
contractual agreements with third–party vendors can substantially reduce cost of operations,
therefore, enabling increase(s) in profits and revenue. Therefore, manufactures, companies, and
businesses constantly attempt to gain a competitive edge within their respected market by utilizing
innovative technologies for business, information technology (IT) and information security (IS)
processes. Henceforth, there has been both an emergence and shift from traditional crime to cyber
and–or corporate crime. Additionally, there has been a dramatic increase of cooperate internal crime
within the business environment a result modern sophisticated technologies; including, highly
qualified cybercriminals that constantly dwell on strategies to target businesses internally and
externally. For example, corporate (IT) cybercrime most often consists of crime against an
organization in which the perpetrator of that crime utilizes a computer and–or host–server to engage
in all or part, thereof, of the crime. Businesses have expanded globally due to implementation of
ecommerce primarily due to availability innovative technologies such as databases, corporate
servers, website servers, computers internal and

Accounting Standards And The Codification System
DATE: January 19, 2016
TO: Chris Yost, CPA
FROM: Holly Thobe, Junior Accountant
SUBJECT: Using the Accounting Standards Codification
All Staff Accountants must learn how to research GAAP accounting standards using FASB's
accounting standards Codification system. The purpose of this memo is to provide instructions on
how to research the accounting standards using the new Codification system. Users will discover
how to research the accounting standards using the Codification system, explore the updated
revenue recognition standards, and learn how to access updates from the system.
FASB Accounting Standards Codification
The FASB Codification database is easy to use when researching the accounting standards once the
basics are fully understood. The FASB Codification database can be accessed by logging in at
http://aaahq.org/ascLogin.cfm and using the following codes (case sensitive): Username –
AAA51207 Password – HFdU64n
The Codification uses a hierarchy to organize its subject matter. Area is the largest collection, and
then comes topic, subtopic and section. Each topic, subtopic and section is identified with a number
and a title. The numbers provide a simple way to find specific accounting guidance. A three–digit
number and a title identify topics. The first digit of the numerical identifier resembles the area of the
topic. Subtopics are either exclusive or shared. Exclusive subtopics have unique content and shared
subtopics have common content. To identify

Security Policies and Implementation Week Four Lab
––––––––––––––––––––––––––––––––––––––––––––––––– Sara
––––––––––––––––––––––––––––––––––––––––––––––––– 10/11/2014
––––––––––––––––––––––––––––––––––––––––––––––––– Week 4 Laboratory: Part 1 Part 1:
Identify Necessary Policies for Business Continuity – BIA & Recovery Time Objectives
Learning Objectives and Outcomes Upon completing this lab, students will be able to complete the
following tasks: * Identify the major elements of a Business Continuity Plan (BCP) * Align the
major elements of a Business Continuity Plan with required policy definitions * Review the results
of a qualitative Business Impact Analysis (BIA) for a mock organization * Review the results of
defined Recovery Time Objectives ... Show more content on Helpwriting.net ...
They must provide policies because it will walk staff through what to do if a disaster were to occur
and how to get things up and running again. 1. When should you define a policy definition and when
should you not define one? You should define a policy definition when creating a new policy with
new topics. You should not define one when updating a policy. 2. What is the purpose of having a
Business Continuity Plan policy definition that defines the organization's Business Impact Analysis?
To identify critical business functions and what disruptions in the services can have on the
organization. 3. Why is it critical to align the RTO and RPO standards within the policy definition
itself? To provide the guidelines for the amount of time a critical business function can remain out of
service before cost rises or data is lost forever. 4. What is the purpose of a Business Impact Analysis
(BIA)? It identifies possible business failurs in a company. It looks at the resources that may be
needed. 5. Why is a business impact analysis (BIA) an important first step in defining a business
continuity plan (BCP)? It is important because the BCP is what to do after the failure occurs and the
BIA is predicting what the failure could be. 6. How does risk management and risk assessment relate
to a business impact analysis for an IT infrastructure? They relate because it is

Board Of Governors Of The Federal Reserve System
SR Letter 11–7
Attachment
Board of Governors of the Federal Reserve System
Office of the Comptroller of the Currency
April 4, 2011
SUPERVISORY GUIDANCE ON
MODEL RISK MANAGEMENT
CONTENTS
I.
Introduction, page II. Purpose and
Scope,
page
III. Overview of Model Risk
Management,
page
IV. Model Development, Implementation, and
Use,
page
V. Model
Validation,
page
VI. Governance, Policies, and
Controls,
page
VII.
Conclusion, page 1
2
3
5
9
16
21

I. INTRODUCTION
Banks rely heavily on quantitative analysis and models in most aspects of financial decision making.
[Fo tn1oe They routinely use models for a broad range of activities, including underwriting credits;
valuing exposures, instruments, and positions; measuring risk; managing and ... Show more content
on Helpwriting.net ...
For example, steps taken to apply this guidance at a community bank using relatively few models of
only moderate complexity might be significantly less involved than those at a larger bank where use
of models is more extensive or complex.[PageBreak]
– For instance, the OCC provided guidance on model risk, focusing on model validation, in OCC
2000–16
(May 30, 2000), other bulletins, and certain subject matter booklets of the Comptroller's Handbook.
The
Federal Reserve issued SR Letter 09–01, "Application of the Market Risk Rule in Bank Holding
Companies and State Member Banks," which highlights various concepts pertinent to model risk
management, including standards for validation and review, model validation documentation, and
back–testing. The
Federal Reserve's Trading and Capital–Markets Activities Manual also discusses validation and
model risk management. In addition, the advanced–approaches risk–based capital rules (12 CFR 3,
Appendix C; 12
CFR 208, Appendix F; and 12 CFR 225, Appendix G) contain explicit validation requirements for
subject banking organizations.EndofFootnote2.]
Page 2
III. OVERVIEW OF MODEL RISK MANAGEMENT
For the purposes of this document, the term model refers to a quantitative method, system, or
approach that applies statistical, economic, financial, or mathematical theories, techniques, and
assumptions to process input data into quantitative

Manipulation Of Contract Awards And Lack Of Fair...
manipulation of contract awards and lack of fair competition, all of which influence the procurement
process and performance negatively (E.J Loandenoije. Et al, 2005)
The Gambella regional, state health institution is one of the public organizations with many
complaints about the procurement unit. The Gambella Regional State Health Institution (GRSHI)
mobilizes significant portion of the annual budget and identifying the problem of the procurement
will help the authority to save a significant portion of the its annual budget and helps to serve the
public in an efficient and effective manner.
Therefore, its due to this gap & fact that the researcher had to carry on such kind of research
through: investigating the current procurement process based on pre–procurement and post
procurement so that the researcher can gain conclusion and recommendations for future proper
usage of resource for the achievement of the authority 's goal and dependable procurement process.
To guide the study, the following research questions were formulated and addressed in the study.
Research questions
1. What are the various factors that affect the sound of public procurement performances?
2. How public procurement operation is practiced in Gambella regional, state health institutions?
3. What is the level of efficiency and effectiveness of the public procurement process in Gambella
regional state health institutions?
1.3.2 Objective of the Study
1.4

Coconut Telegraph Essay
Background on Coconut Telegraph Coconut Telegraph Corporation (Coconut) is a developer and
provider of specialized customer billings and management software and systems. On February 1,
2012, Coconut entered into an arrangement with Buffett Worldwide Inc. (Buffett) to deliver the
Volcano System and provide one year of post contract customer support (PCS) beginning March 1,
2012. Buffett paid $12,000 on February 1, 2012, for the Volcano System and the related PCS. On
May 1, 2012, and in a separate contract, Coconut agreed to provide Buffett with (1) training services
on the customer management system and (2) an additional year of PCS. Under the terms of this
agreement, Buffett immediately paid consideration of $4,500 for the ... Show more content on
Helpwriting.net ...
Therefore, the arrangement for the system would not be within the scope of ASC 985–605 and
would likely fall within the scope of ASC 605–25 and 605–20. Revenue Recognition – April 30,
2012 Agreement Based on the information outlined above, the revenue recognition accounting
would follow that for Multiple–Element Arrangements as outlined in ASC 605–25. The accounting
units of system and PCS will be accounting for separately, because the criteria of ASC 605–25–5–a
are met: "The delivered item or items have value to the customer on a standalone basis. The item or
items have value on a standalone basis if any vendor sells them separately or the customer could
resell the delivered item(s) on a standalone basis. In the context of a customer's ability to resell the
delivered item(s), this criterion does not require the existence of an observable market for the
deliverable(s)." As outlined in the case, both the customer support system and the post–contract
customer support have standalone relative selling prices of $12,000 and $2,000, and could be
purchased separately. Therefore, it is appropriate to use Vendor–Specific Objective Evidence to
determine the amount of revenue to recognize for the system ASC 605–25–30 and the breakout for
PCS, but PCS will also be subject to nonrefundable up–front fee stipulations for revenue
recognition. According to ASC 605–10–S99 SEC Materials and the SEC's codification of Staff

Case 04-7 Lighthouse
I. Succint Lighthouse provides a ship tracking service for shipping companies to locate their ships at
sea, as well as knowing their speed and the weather they are facing. Lighthouse does a contract for
the delivery and installation of the physical device that is capable of achieving this through a
tracking service that calls for a second contract. The price for the dedicated hardware (exclusive to
Lighthouse services) and installation is a single nonrefundable amount of $10,000 payable at
completion of installation and acceptance by client. When this is done, the location service can be
provided. The service contract which is generally for one year is paid monthly at $300 per month.
Customers may cancel the service contract at anytime. ... Show more content on Helpwriting.net ...
Those Subsections (see paragraph 825–10–05–5) address circumstances in which entities may
choose, at specified election dates, to measure eligible items at fair value (the fair value option). See
Section 825–10–15 for guidance on the scope of the Fair Value Option Subsections of the Financial
Instruments Topic. ________________________________________ General
________________________________________ Combine Subsections Related Exposure Draft >
Revenue and Gains 25–1 The recognition of revenue and gains of an entity during a period involves
consideration of the following two factors, with sometimes one and sometimes the other being the
more important consideration: a. Being realized or realizable. Revenue and gains generally are not
recognized until realized or realizable. Paragraph 83(a) of FASB Concepts Statement No. 5,
Recognition and Measurement in Financial Statements of Business Enterprises, states that revenue
and gains are realized when products (goods or services), merchandise, or other assets are
exchanged for cash or claims to cash. That paragraph states that revenue and gains are realizable
when related assets received or held are readily convertible to known amounts of cash or claims to
cash. b. Being earned. Paragraph 83(b) of FASB Concepts Statement No. 5, Recognition and
Measurement in Financial Statements of Business Enterprises, states that revenue is

From Viewers And Cohorts. After, Klas Identifies Key Insights
from viewers and cohorts. After, KLAS identifies key insights from interviews. Afterward, KLAS
make the decisions manufactured from the analysis and publish for public review. The next header
provides tools and resources such as industry reports, performance reviews, insight, and analysis.
Kent, Leonard, Adam, and Scott (KLAS) partners with healthcare professionals to provide
"unlimited access to peer review and scores for hundreds of products and vendors" (KLAS). At the
end of the page is the KLAS blog that encourages active involvement from viewers to chat about the
specific healthcare related topics. For example, one blog that grabbed Ms. News's interest is the blog
topic titled To Hire by Character First. The blog shares the ... Show more content on Helpwriting.net
...
All our reports are available to health professionals who are willing to share their experience with
KLAS. One article Ms. New finds helpful to the course study, and final research essay is the report
titled Healthcare IT Investor Update 2017 Q1. Also, KLAS gives viewers a sneak peek of upcoming
reports. Each report contains the following core features: Easy to digest information Key findings
from in–depth peer interviews Advice & insights from actual healthcare professionals Most recent
reports. (KLAS) INSIGHT AND ANALYSIS SERVICES The Kent, Leonard, Adam, and Scotts
(KLAS') Analysis & Insight team can work directly with health organizations to accelerate
healthcare providers' decision process. KLAS' sole mission is "to help provide organizations with
transparency through research so that health professionals can make sound decisions quickly"
(KLAS). KLAS ratings and reports base on broad trends across all customers. Most IT solutions
require some compromises for different stakeholder groups. KLAS INVESTOR SERVICES The
Kent, Leonard, Adam and Scotts (KLAS') investment services team evaluates the current success of
healthcare technology and services companies along with projected future success through the
KLAS Fingerprint. The tool is a result of years of research by our KLAS analysts around which key
factors drive provider success and vendor retention. As a part their investor services, KLAS

Kappa Event Essay
TABLE OF CONTENTS:
THE BASICS
What is a Kappa Event?
Insurance Coverage
Basics to Remember
GENERAL EVENT RULES
Certificates of Insurance
Check In/Check Out
Contracts
Co–Sponsors
Event Planning Forms
Member Commitment Statement
Multiple Guests
Start and Stop Times
Transportation
EVENTS SPECIFICS
Alcoholic Events
Dry Events
Philanthropy
Sleepovers
OTHER RESOURCES
State/Country Specifics
Just Say "No" To
The Basics of Kappa Kappa Gamma's Risk Management Procedures
WHAT IS A KAPPA EVENT?
Kappa does not have a specific definition for what we consider to be a Kappa event. Rather, we use
the objective outside observer's standard – any event a reasonable, objective observer would
associate with Kappa is considered to be a Kappa event. ... Show more content on Helpwriting.net ...
Minimum requirement of $1 million. o Workers compensation: (Required for transportation COIs

for any hired transportation.) Covers drivers in the case of an accident. No minimum limit.
REQUESTING A COPY OF KAPPA'S INSURANCE:
Occasionally, vendors will request a copy of Kappa's insurance to show the coverages we have in
case members/guests are responsible for damages. In order to obtain a copy of our COI, please
follow the steps below:
Requests for a Kappa COI must be made at:
www.mjsorority.com/mj/sorority.nsf/vwcontent/certificate_request_form
The form must be submitted at least two weeks prior to the event date or you risk not having your
COI in time for the event.
Please attach all paperwork related to your event and fill out the form as completely as possible.
CHECK IN/CHECK OUT
CHECK–IN PROCEDURE FOR EVENTS OFF CAMPUS:
The Event Committee and/or Chapter Council members act as bus captains to facilitate a check–in
and checkout list for each bus. Chaperones can assist with check in/check out, but it is the
responsibility of the chapter's Event Team to check and enforce the

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